Telecom Italia working on new business plan as assesses KKR offer – sources – Reuters

The TIM emblem is seen at its headquarters in Rome, Italy November 22, 2021. REUTERS/Yara Nard

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The TIM emblem is seen at its headquarters in Rome, Italy November 22, 2021. REUTERS/Yara Nard

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MILAN, Jan 4 (Reuters) – Telecom Italia (TIM) (TLIT.MI) is working with banks To draw up A mannequin new Advertising method That would contain spinning off belongings As a Outcome of it research decisions To assist assess a buyout supply from U.S. fund KKR (KKR.N), two sources Conversant Inside the matter said on Tuesday.

Debt-laden TIM acquired a non-binding buyout strategy from KKR in November that indicatively worthd The earlier telephone monopolist at 33 billion euros ($38 billion) collectively with debt.

However An affect vacuum prompted by the ousting of Chief Authorities Luigi Gubitosi following a collection of revenue warnings final yr has delayed the group’s response to KKR, which has requested entry to agency knowledge earlier than making A right bid.

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KKR’s supply is conditional on backing from The agency’s board and Italy’s government, but TIM’s largest shareholder Vivendi (VIV.PA) has said it Does not mirror TIM’s worth.

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Source: https://www.reuters.com/markets/europe/telecom-italia-working-new-business-plan-assesses-kkr-offer-sources-2022-01-04/

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